David Canter Steps Back as President of Bluespring Wealth Partners

David Canter, who joined Bluespring Wealth Partners, a unit of Kestra specializing in advisor acquisitions, will transition from his role as president to become a senior strategic advisor. He will also assist in the search process for a new president of the business unit.

Canter, who previously served as head of the RIA custody business at Fidelity for nearly 13 years, expressed his excitement about taking on this new role. He believes that by focusing more strategically on supporting Bluespring, he can help develop financial advisor partnerships that give business owners the flexibility, independence, support, and resources they need to succeed.

During this transition period, Bluespring founder and chairman Stuart Silverman will lead as interim business unit leader, assuming day-to-day leadership responsibilities. This includes overseeing the business development and acquisition strategy.

Bluespring has experienced significant growth since its inception four years ago, completing 30 acquisitions and adding nearly $4 billion in new assets in 2022 alone. This success is indicative of the strong M&A activity in the RIA industry, driven by increased private investment and RIA aggregators.

Kestra Holdings CEO James Poer expressed confidence in the changes and the continued support of all leaders involved. He believes these changes will help Bluespring harness new opportunities for growth, reinforcing his optimism about the future of the business.

Parent company Kestra is an independent broker-dealer with over 1,700 advisors and $103 billion in assets as of December 31.